Honda zeroes in on EV industry with a new line of vehicles

TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Wednesday, January 10.

Related: Sony and Honda’s new EV is an AI-powered wake up call for Tesla

Full Video Transcript Below:

J.D. DURKIN: I’m J.D. Durkin – reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.

Investors are looking ahead to key data this week – the Consumer Price Index report on Thursday and Producer Price Index report on Friday. Both reports will give Wall Street clarity on the rate of inflation and hopefully clues into the Fed’s next move.

Investors are also looking ahead to the kick off of fourth-quarter earnings season. These reports will be critical to stocks that have stumbled to begin the new year.

In other news – Honda unveiled a line of electric vehicles, called the Honda Zero series. The company revealed the new concept cars at the Consumer Electronics Show in Las Vegas, as Honda continues its mission to make only zero-emission vehicles by 2040.

The 0 series will feature both the Honda Saloon and Honda Space-Hub – with the Saloon resembling a hatchback and the Space-Hub looking like a minivan with limo-style seating that, according to the company, will “augment people’s daily lives.” Honda also revealed a new “H” logo that it will use exclusively on its new electric vehicles.

Honda’s Global Executive Vice President said the cars are “a bold and pure proportion that from the first glance is overwhelmingly different from other EVs to evoke a new perspective for people.”

In 2023, Honda announced it would invest $40 billion to create new EVs, saying it has plans to introduce 30 new cars globally by 2030. However, unlike its competitors, Honda currently offers no fully electric vehicles in the U.S.

That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.

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